During the recent crypto market decline, meme coins on various blockchains, especially those based on Solana, have suffered significant losses. Solana's meme coin ecosystem experienced a sharp decline, with some of its main coins losing a quarter of their value overnight. Among Solana-based meme coins, MEW, MYRO, and BONK were hit the hardest, showcasing a 20% drop in value, making them the worst performers compared to other categories on CoinGecko's "Categories" tab.

Additionally, Cat-Themed Coins, another meme category, also faced a notable decline and ranked as the sixth worst performer on the list. The Solana meme coins scene witnessed a loss of $1.5 billion in market capitalization due to the ongoing cryptocurrency collapse. Among the large Solana meme coins, Cat in a Dogs World (MEW) experienced the biggest drop of 29%, followed by Myro (MYRO) at 24%, and Dogwifhat (WIF) and Bonk (BONK) with double-digit losses.

While the overall cryptocurrency market capitalization plummeted by 4.7%, Bitcoin (BTC) and Ethereum (ETH) saw losses of 3% and 6%, respectively. Other sectors that performed poorly include Theta Ecosystem coins, game-centric coins, governance coins of perpetuals exchange protocols, and cross-chain communication products. On the other hand, centralized exchanges' coins and major Layer 1 blockchain native currencies remained relatively stable during the market downturn.

Bitcoin's price dipped from $71,000 to below $68,000 in response to U.S. macroeconomic uncertainty and tensions in the Middle East, contributing to the overall decline in the crypto market.